2017
INTERNATIONAL SUPPLIER
OF HOME DECORATION ARTICLES
Excerpt from the Annual Report 2017
Translation disclaimer:This document is a free translation of the French language version of the consolidated financial statements for the twelve-month period ended 31 December 2017 produced for the convenience of English speaking readers. In the event of any ambiguity or conflict between statements or other items contained herein and the original French version, the relevant statement or item of the French version shall prevail. While all possible care has been taken to ensure that this translation is an accurate representation of the original French document, this English version has not been audited by the company's statutory auditors and in all matters of interpretation of information, views or opinions expressed therein, only the original language version of the document in French is legally binding. As such, this transla tion may not be relied upon to sustain any legal claim, nor be used as the basis of any legal opinion and U10 expressly disclaims all liability for any inaccuracy herein.
Figures in presented herein (excluding tables) expressed as "K€" in the original French document have been rounded off accordingly to the nearest thousandth (000s).
CONSOLIDATEDFINANCIAL STATEMENTS 2017
Consolidated financial statementsat 31 Decembre 2017
1. Consolidated balance sheet 4
2. Consolidated income statement and statement of comprehensive income 5
2.1. Consolidated income statement 5
2.2. Statement of comprehensive income 5
3. Consolidated statement of cash flows 6
4. Statement of changes in consolidated shareholders' equity 7
5. Notes to the consolidated financial statements 7
5.1. Significant accounting policies 7
5.2. Notes to the balance sheet 11
5.2.1. Non-current assets 11
5.2.1.1. Goodwill 12
5.2.1.2. Intangible assets 12
5.2.1.3. Property, plant and equipment 13
5.2.1.4. Investments and other non-current assets 14
5.2.2. Current assets 14
5.2.2.1. Inventories 14
5.2.2.2. Receivables 14
5.2.2.3. Cash and cash equivalents 15
5.2.3. Shareholders' equity 15
5.2.3.1. Stock option plans 15
5.2.3.2. Share capital 15
5.2.3.3. Dividends paid to parent company shareholders 16
5.2.4. Provisions 16
5.2.5. Payables 17
5.2.5.1. Net financial debt 17
5.2.5.2. Current payables 18
5.2.5.3. Financial instruments 19
5.3. Notes to the income statement 19
5.3.1. Revenue 19
5.3.2. Current operating income 19
5.3.2.1. Staff costs and workforce 19
5.3.2.2. Other net operating income and expenses 19
5.3.3. Net allowances for depreciation and reserves 20
5.3.4. Non-current operating income and expenses 20
5.3.5. Financial expenses and income 20
5.3.6. Income tax 20
5.3.7. Earnings per share 21
5.4. Segment reporting 21
5.5. Pro forma income statement 22
5.6. Off-balance sheet commitments 23
5.7. Related parties 24
5.7.1. Related parties 24
5.7.2. Compensation of directors and officers 24
5.8. Information on lease agreements 24
5.9. Subsequent events 24
5.10. Fees paid to Auditors and members of their network by the Group 24
1. Consolidated balance sheet
ASSETS
(€ thousands)
Note
2017
Gross value
2016
Amortisations
Net
Net
Goodwill
Other intangible assets Property, plant and equipment Financial assets
Deferred tax assets
5.2.1.1
5.2.1.2
5.2.1.3
5.2.1.4
5.3.6
47,468
33,364
3,273
3,294
816
47,468
2,849 13,629 0 0
50,176
423 19,735 3,294 816
324 20,673 3,802 550
Total non-current assets
88,215
16,478
71,737
75,525
Inventories Customers Current taxes
Other receivables and prepaid expenses Cash and cash equivalents
5.2.2.1
5.2.2.2
5.2.2.2
5.2.2.2
5.2.2.3
58,054
278
37,721
449
2,184
0
9,190
2,162
16,105
57,776
52,755
37,272
35,165
2,184
618
7,028
10,347
0
16,105
32,902
Total current assets
123,254
2,889
120,365
131,787
TOTAL
211,469
19,367
192,102
207,312
SHAREHOLDERS' EQUITY AND LIABILITIES
(€ thousands)
Capital
Additional paid-in capital Treasury shares Reserves and income
Shareholders' equity attributable to the Group
Note
2017
2016
17,261 12,807 -78 57,98787,976
18,640 12,807 -101 70,644101,990
Non-controlling interests
Total shareholders' equity
5,64393,620
5,835107,825
Long-term debt Non-current provisions Deferred tax liabilitiesTotal non-current liabilities
5.2.5.1 5.2.4 5.3.6
25,408 1,227 1,49728,132
29,816 1,161 2,57133,548
Current portion of long-term debt Short-term debt
Current provisions
Trade payables and related accounts Corporate income tax liabilities Other current liabilities
Total current liabilities
5.2.5.1
5.2.5.1
5.2.4
5.2.5.2
5.2.5.2
5.2.5.2
5,446
4,364
32,315
28,127
218
225
22,014
24,476
50
163
10,30770,350
8,58565,939
TOTAL
4|Consolidated financial statements 2017
192,102
207,312
2. Consolidated income statement and statement of comprehensive income2.1. Consolidated income statement
Consolidated income statement (€ thousands) | Note | 2017 | 2016 |
Revenue | 5.3.1 | 180,324 | 198,613 |
Discounts granted | -622 | -643 | |
Other income from ordinary activities | 179,702 | 197,970 | |
Trade goods, raw materials and subcontracting services used | -120,212 | -132,525 | |
Staff costs | 5.3.2.1 | -19,803 | -20,340 |
Other net operating income and expenses | -29,458 | -29,676 | |
Taxes and similar payments (other than on income) | -1,848 | -1,986 | |
Current operating income before depreciation and reserves | 8,380 | 13,443 | |
Allowances for depreciation and reserves | 5.3.3 | -1,893 | -1,732 |
Current operating income | 6,487 | 11,712 | |
Non-current operating income and expenses | 5.3.4 | -566 | -678 |
Operating profit | 5,921 | 11,033 | |
Financial income | 36 | 443 | |
Financial expense | -980 | -884 | |
Net financial expense | 5.3.5 | -944 | -440 |
Corporate income tax | 5.3.6 | -1,745 | -3,440 |
Consolidated net income | 3,233 | 7,153 | |
Attributable to: | |||
U10 Group shareholders | 3,023 | 6,836 | |
Non-controlling interests | 210 | 318 | |
Earnings per share | 5.3.7 | 0.18 | 0.40 |
Earnings per share were stated in the 2016 financial statements at€0.37, before the capital reduction by the cancellation in shares approved by the shareholders' general meeting of 15 June 2017.
2.2. Statement of comprehensive income
Statement of comprehensive income (€ thousands) | 2017 | 2016 |
Consolidated net income (carried forward) | 3,233 | 7,153 |
Foreign currency translation reserves | -3,021 | 801 |
Cash flow hedges, net of tax(1) and (2) | -2,865 | -226 |
Actuarial gains (losses) on retirement liabilities(2) | - | -69 |
Other comprehensive income | -5,886 | 506 |
Comprehensive income/(loss) | -2,653 | 7,659 |
(1) Of which amounts added back to consolidated income, net of tax: | 1,433 | 148 |
(2) Of which tax impacts: | -1,884 | -1,692 |
All other comprehensive income items are destined to be recycled in profit or loss, with the exception of actuarial gains and losses on retirement liabilities.
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U10 SA published this content on 01 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 October 2018 08:16:06 UTC